
Faded Rose
With the latest announcement of another cancelled Casino project in AC ( four in a month), you could say the bloom is off the rose here. Some locally, are saying it's all because of the International Recession. I might buy that reason if it wasn't for the fact that AC's fortunes turned sour over 2.5 yrs ago. I was writing about our imminent decline back then and now it's all coming to pass.
CASINOS as a Development Idea
The bottom line is this, the owners of the casinos have failed to produce a sustainable and wider economy in AC. They're own much vaunted plans to rebuild the town failed miserably. As I always like to say, Communist China has done a much better job of developing it's economy this last 30 yrs. then AC's Big Corp. and Big Government overseers. The truth is both groups failed to deliver. One drive around the town shows you what happens when you try top down development. The middle class and small business sector gets the shaft and with them more then half of the employment potential of the community. The Casinos to be blunt were greedy and stupid in the way they could have cared less how the rest of the local economy languished. Now they're paying the price. Gambling just isn't enough and all their rah rah rah PR BS won't fix it! As for the BIG Gov't side of the equation, what can one say? The Big Gov't guys made sure they strictly enforced the law on all the little guys while largely allowing the BIG guys ( the casinos) to do as they damn well pleased. The result is obvious. The folks with the BIG Corp. jobs have done fine and the people with Gov't jobs have flourished as well. That's 50 % of the population. The rest of the picture is bleak now. How do we get out of this mess is the big ?? Will the Federal stimulus bill work? I'll talk about what I think about that in tomorrow's blog.